Letters & Memos

Apr 20, 2021

Advocates Call on the OCC to Carefully Scrutinize Bank Partnerships with Companies Providing Income Share Agreements

In a letter, the SBPC, Americans for Financial Reform Education Fund, the California Reinvestment Coalition, the Center for Responsible Lending, Consumer Reports, and the National Consumer Law Center urge the OCC to carefully scrutinize the “partnership” between Blue Ridge Bank, a federally chartered national bank, and MentorWorks, a student financing company that offers ISAs.

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Letters & Memos

Apr 12, 2021

97 Advocacy Organizations Call on the Secretary of Education to Cancel Student Debt for All Public Service Workers with 10 or More Years of Service

In a letter to Secretary of Education Miguel Cardona, the SBPC, Equal Justice Works, and 95 other advocacy organizations, call on ED to conduct an immediate 90 day review of the PSLF program and cancel the student loan debt of all public service workers who have completed ten or more years of service.

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Letters & Memos

Mar 30, 2021

Income Share Agreements and TILA’s Ban on Prepayment Penalties

This memo explores how the Truth in Lending Act’s (TILA) consumer protections prohibit a prominent feature of Income Share Agreements (ISAs) known as a “prepayment penalty”—a lending industry practice that forces borrowers to pay an extra sum if they want to pay off a debt early.

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Investigations Letters & Memos

Mar 11, 2021

SBPC Investigation Finds Coding Bootcamps Offering ISAs May Be Unlawfully Depriving Students of the Ability to Protect Themselves from Fraud

In a memo, the SPBC highlights how ISA companies are unlawfully depriving students of the ability to protect themselves from fraud by leaving out of their ISA contracts language required under the Federal Trade Commission’s (FTC) “Holder Rule.”

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Letters & Memos

Mar 10, 2021

The Campaign for California Borrowers’ Rights Call on the CA Department of Financial Protection and Innovation to Create Strong Protections for Student Loan Borrowers

In a letter sent to the Commissioner Alvarez, the Campaign for California Borrowers’ Rights—a coalition of advocacy organizations committed to protecting student loan borrowers—calls on the newly created California Department of Financial Protection and Innovation to use its authorities to engage in diligent supervision, proactive enforcement, deliberate rulemaking, and smart data collection to protect California’s 3.8 million student loan borrowers.

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Letters & Memos

Mar 10, 2021

SBPC and the Center for Consumer Law & Economic Justice at the UC Berkeley School of Law Call on the CFPB to Crack Down on Predatory For-Profit Schools

This issue brief, from the SPBC and the Center for Consumer Law & Economic Justice at the University of California, Berkeley, School of Law, examines how the Consumer Financial Protection Bureau has the authority to take action to crack down on predatory for-profit schools.

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Letters & Memos

Mar 2, 2021

Student Borrower Advocates Call on Lawmakers to Confirm Rohit Chopra as Next CFPB Director

34 advocacy organizations call on Senate Banking Committee to swiftly confirm Chopra as next Director of the CFPB.

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Letters & Memos

Feb 16, 2021

SBPC and NCLC Demand Washington Stand Up for Millions of Student Loan Borrowers Struggling Without Relief During COVID

In a letter to Acting Secretary of Education Philip Rosenfelt, the SBPC and the National Consumer Law Center (NCLC) urged immediate action to assist millions of student loan borrowers forgotten by Washington during COVID.

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Letters & Memos

Feb 11, 2021

Advocates Call on CFPB to Prioritize the Student Debt Crisis as a Civil Rights Crisis

The SBPC sent a letter to the urging that any efforts focused on removing barriers to societal equity must acknowledge the racially disparate effects of the student debt crisis and the decades-long failure to effectively regulate the student loan industry.

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Letters & Memos

Oct 21, 2020

Advocates Warn Specialty Student Lender Climb Credit May be Deceiving Borrowers and Engaging in Pervasive Consumer Protection Violations

The SBPC sent a letter to the CFPB warning of troubling business practices and possible borrower harm by Climb Credit, a specialty lender that provides financing for education and vocational training courses.

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Letters & Memos

Advocates Call on the OCC to Carefully Scrutinize Bank Partnerships with Companies Providing Income Share Agreements

97 Advocacy Organizations Call on the Secretary of Education to Cancel Student Debt for All Public Service Workers with 10 or More Years of Service

Income Share Agreements and TILA’s Ban on Prepayment Penalties

SBPC Investigation Finds Coding Bootcamps Offering ISAs May Be Unlawfully Depriving Students of the Ability to Protect Themselves from Fraud

The Campaign for California Borrowers’ Rights Call on the CA Department of Financial Protection and Innovation to Create Strong Protections for Student Loan Borrowers

SBPC and the Center for Consumer Law & Economic Justice at the UC Berkeley School of Law Call on the CFPB to Crack Down on Predatory For-Profit Schools

Student Borrower Advocates Call on Lawmakers to Confirm Rohit Chopra as Next CFPB Director

SBPC and NCLC Demand Washington Stand Up for Millions of Student Loan Borrowers Struggling Without Relief During COVID

Advocates Call on CFPB to Prioritize the Student Debt Crisis as a Civil Rights Crisis

Advocates Warn Specialty Student Lender Climb Credit May be Deceiving Borrowers and Engaging in Pervasive Consumer Protection Violations

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